It’s a New York State of Mind for Nevada Gold & Casinos Inc (AMEX: UWN)
The hustle and bustle of New York can be taxing – literally. The Empire State carries with it the highest gaming tax rate in the nation – the 68 percent tax on revenue has spurred complaints and calls for reform, leaving some New York state investors looking for alternate options. According to Andrew Smith, director of research for the American Gaming Association, New York state racetrack casinos brought in $294.99 million in revenue for 2005. Of that, nearly $209.45 million went to the state. That’s one of a few reasons Nevada Gold and Casinos Inc. (AMEX: UWN) is selling its…